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News Link • Venezuela

Venezuela Is Recruiting 'Miners' For Its Cryptocurrency

• https://www.zerohedge.com, by Tsvetana Paraskova

The Unique Registry of Digital Mining that Venezuela has created will be open until January 21, according to local newspaper El Impulso. Registration to the registry is a requirement for natural and legal persons to have access to Venezuela's Petro cryptocurrency.

In early December, Venezuela's President Nicolas Maduro shocked both analysts who follow the country's flirting with default and the cryptocurrency community by announcing that Venezuela wanted to launch the petro cryptocurrency, backed by oil, diamonds, and gold reserves, to help the country to "advance in issues of monetary sovereignty, to make financial transactions and overcome the financial blockade."

At the end of December, Venezuela's Communications Minister Jorge Rodríguez said that the country was getting ready to launch within days its own digital currency - El Petro - which will be backed by more than 5.3 billion barrels of oil and support US$267 billion worth of financial instruments.


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